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PlayUp Announces A$12.5 million Placement Completion

02/22/2021 | 05:58pm EST

PlayUp Announces A$12.5 million Placement Completion

Sydney, Australia (ABN Newswire) - PlayUp Limited is pleased to announce it has successfully completed a significantly over subscribed private capital raising of A$12.5 million ("Capital Raising").

The Capital Raising received very strong support from new and existing, institutional and high net worth investors, including several investors with a strong pedigree and track record in the betting entertainment industry.

The Capital Raising will fund the Company's launch and expansion into the US market.

PlayUp's CEO, Daniel Simic, commented: "We are very pleased with the outcome of what has been a highly successful capital raising for the Company. We want to thank existing shareholders who participated in the Placement and welcome new investors to the register for the next stage of PlayUp's growth, being our launch into the US market."



About PlayUp:

PlayUp is a premium entertainment and technology group that enriches the lives of people through entertaining, rewarding and responsible online betting. We develop innovative online betting technologies in-house to power our brand and deliver world-class user experiences. Our energies are focused on fulfilling the needs of dedicated and passionate users who seek a deeper connection to the games they play.

We unify the world's favourite online betting products including Fixed Odds Sports Betting, Fixed-Odds Racing (Horses and Greyhounds), Esports and Daily Fantasy Sports (DFS) where we host Australia's largest and indeed some of the globe's largest prize pools in this competitive peer-to-peer online betting.

We hold online betting licenses in multiple jurisdictions and currently operate in Australia, New Zealand, India and the USA. In the USA, we have secured licensing and access to the nascent online sports betting market where our launch is imminent into multiple states.



Source:
PlayUp



Contact:

Corporate and Media:
Jane Morgan 
Jane Morgan Management
jm@janemorganmanagement.com.au
+61 405 555 618

Investor Relations:
Dean Sleigh
Global CFO, PlayUp Limited
dean.sleigh@playup.com
+61 412 330 285
 

© ABN Newswire 2021
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